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Phosphoric acid Phosphoric acid News
SunSirs: Mainly Watch-and-see, Phosphoric Acid Market Was in a Stalemate and Consolidating Operation (July 8-16)
July 17 2024 11:27:04SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 16th, the reference average price of 85% industrial grade thermal phosphoric acid in China was 6,440 RMB/ton, which was 0.31% lower than the reference average price of 6,460 RMB/ton on July 8th.

According to the Commodity Market Analysis System of SunSirs, as of July 16th, the reference average price of 85% wet process phosphoric acid in China was 6,666 RMB/ton, which was stable compared to the reference average price of 6,666 RMB/ton on July 8th.

Analysis review

This week, the domestic phosphoric acid market had been in a state of price stagnation and consolidation. As of July 16th, the ex factory price of 85% thermal phosphoric acid in Hubei region was around 6,300-6,600 RMB/ton, and the ex factory price of 85% industrial phosphoric acid in Sichuan region was around 6,300-6,500 RMB/ton. The domestic market price for 85% wet process phosphoric acid was around 6,600 RMB/ton.

Cost side:

In terms of raw material phosphorus yellow: This week, the phosphorus yellow market had been weakly consolidating and operating. The enterprise operating rate and market supply increased. Downstream price procurement was mainly at lowered prices, and the focus of transactions was decreasing. Domestic phosphorus yellow prices are expected to remain weak in the short term.

Raw material phosphate rock market: The market price of phosphate rock has been running steadily this month. The inquiry atmosphere in the phosphate rock field was mild, with downstream urgent procurement being the main focus. It is expected that domestic phosphate rock prices will remain stable in the short term.

Supply and demand side

As of July 16th, the supply of thermal phosphoric acid in the market was stable, while some wet process phosphoric acid manufacturers had undergone equipment maintenance, resulting in a decrease in market supply. However, there was still support on the supply side. As of July 16th, the market demand was average, with downstream essential procurement being the main focus, and mostly adopted a wait-and-see attitude.

Market outlook

SunSirs' phosphate analyst believes that the phosphate market had been steadily consolidating in recent days. The market for raw material phosphorus yellow was weakening, and there was insufficient support on the cost side of thermal phosphoric acid, while there was still support on the supply and demand side of wet process. Downstream and distributors operated cautiously, and terminal demand need to be improved. It is expected that the market price of phosphoric acid will experience a narrow consolidation in the short term.

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